CEO Business Visits

• Mr. Dave Padgett, Owner
• Mr. Kurt Artinger (Investor)

CEO Guest Speakers

• Mr. Patrick Mckeehan

This week in CEO our class on Monday met with Padgett Construction. The story of how the business started and failed the first time was quite interesting because it showed us an example of how to run a business, people need the financial side and the people side of things. I also really enjoyed hearing the different ways that someone can buy into a business and the reasons why for each. I would never think that legally someone could have so many problems and have to consider all possibilities before buying into said company.

On Tuesday our class met with Patrick McKeehan and we all practiced our elevator pitch with him and he would tell us what we would do right and what we could improve on. I love doing this elevator pitch type things and even though I was really nervous. This type of thing gets me really excited and I'm happy that our class got to participate in one.

On Wednesday our class met with Kurt Artinger and he also judged our pitch and gave us some business. He talked a bit about our business being customer responsive and how important it is. At the end we listened to his elevator pitch and that blew me away. I could not believe how ready he was to go at any time and was able to hit all the points he told us to focus on.

On Thursday we had our pitch competition and it was quite nerve racking. As we all waited outside the room not knowing who would go next, everyone got extremely nervous. You could look around and tell and I have never had a big problem with public speaking but I still had that feeling anyway. Once I got in there all those feelings and worries that were holding me back disappeared. When it comes down to it, I was ready to look these business professionals in the eye and convince them that my business was one to invest in or hire.  Sadly I got second place but congratulations to Carson for first and Kaitlynn for third. Carson was the only person to type up a page of notes on what to go over and for that little extra work he got first.

Joe Beussink
Friday, April 7, 2017Learn More About Joe

On Monday we were at Padgett Construction where we learned of their rich history and some business techniques. While we were there, David Padgett told us about his adventures in gaining ownership and the rollercoaster of business. He told us that he is always reading books on business and recommended that we do the same that way we gain experience without having to experience the problems. He also said that we need to find a job that fits your passion and told us about the story when his grandfather lost his arm. He used to work on the railroad and was riding a train but fell/jumped off and his arm got stuck then cut off underneath the train after dragging him a hundred yards. Everyone was expecting him to be upset/depressed but he was happier than he had ever been and when asked why he said because he doesn’t have to go back to work on the railroad he hated it there so bad. Dave told us that if you hate a job so bad you’re willing to lose an arm to stop working there you should probably quit. He later went on to tell us that some customers will not fit your business and its culture so let them go to your competitors so that they’ll go out of business. To have the best customer service rating you have to let them know everything that will happen and set their expectations so there is nothing that they don’t know. The key to success is knowing your books. You have to know everything about your financials and have them up to date.

Then on Tuesday and Wednesday we had Patrick McKeehan and Kurt Artinger come in and review our elevator pitches giving us advice on what to do to improve it and become the best that it can be. This was very insightful and helpful and actually led me to win the elevator pitch competition on Thursday. Overall this was an extremely productive and successful week.

Carson Gamboe
Friday, April 7, 2017Learn More About Carson

Family businesses aren’t dead, in a rare occasion; one person can be the roots of a dynasty. Monday we learned this first hand from Padgett construction. A family ran company that has had many ups and downs throughout their existence. According to Dave Padgett, the newly joint owner, the grandpa was the roots of their success. One person can have the power to impact people for entire generations to come. While having the privilege to speak with Dave Monday morning, the entire atmosphere screamed family oriented.  Upon arriving we were at their headquarters which is also part of Grandma’s property. Next door to her home they are always a short walk away from their kin. Though that is surely different than any other businesses we go to, the work ethic of these people are unmatched.

What I found most interesting, was the owner transition upon selling. There are many laws and tax implications that come into play when a business is transferred to family. Prior to this I had thought that ownership exchange would go smoothly and without any barriers. But without any research life can hit you hard.  I have learned this first hand but it seemed like I could relate more to what they are doing at Padgett construction. Though much of this week was centered around our Elevator pitches, I still managed to get something out of it. I overcame my fear of speaking in front of people about my personal assets and even though I didn’t win, I surely got something out of it.

Austin Thurman
Friday, April 7, 2017Learn More About Austin

 This week for CEO we worked on our elevator pitches and participated in SUIE’s Elevator Pitch Contest. Patrick Mckeehan and Kurt Artinger came in during the week to help us as well. Overall it was a fun and very helpful week for Belleville CEO!

On Tuesday Patrick Mckeehan came in and listened to everyone's elevator pitches. He gave everyone some helpful advice for their particular speeches as well as some general advice. One thing I was interested in hearing was the best ways to open and close an elevator pitch. For the most part I knew all of the information I wanted and needed to say in my pitch, my biggest problem was flowing it all together to make a convincing pitch. That problem really started with the opening. Patrick told us it is usually a good idea to do a quick and brief introduction of yourself and then launch right into the problem. People will not care about your business as much if they don't know what problem it is aimed at solving. Starting off with the problem is a great way to get people interested and ready to hear more.

On Wednesday Kurt came in to hear everyone's pitches. Kurt helped similarly to how Patrick gave advice to everyone and individuals. One things Kurt really helped me realize, was that not every pitch is going to be aimed at the same thing. Some pitches will be aimed at securing possible investors, others might be to customers, or even business partners. No matter who you are pitching to, your pitches will all be very similar. Every pitch should include your “company’s story”, or a simple background on your company that allows the person to fully understand what your company does and why. What changes with each pitch will be the details. For instance, investors will be much more interested in hearing about financials and projections, whereas a potential customer would rather hear about your competitive advantage. With each pitch you are able to go more in depth on certain topics depending on what your goal is. I hadn't really thought about this until Kurt talked about it. It makes perfect sense and will definitely help me in the future.

Tim Donaho
Friday, April 7, 2017Learn More About Tim

Before we were presented with the challenge of creating and presenting an elevator pitch, I was very cautious, and anxious about how I would be perceived. I know from previous experiences that I am not good at public speaking. Standing in front of the class by myself and speaking in front of people alone was a challenge. I don't feel comfortable with public speaking. I don't feel as though I did well in the elevator pitch because I remember stumbling over a lot of my words, and I was really nervous. This week we had just one business visit, and the rest of the week were workdays, and practicing for the elevator pitch.

Monday our class went to Padgett Construction to meet with Dave Padgett. Padgett construction is a family business where Dave Padgett is currently the third generation partner/owner. The business is financially operated using cruel accounting. The business was originally opened in 1978 by twin brothers Ron & Don Padgett. Although opening in 1978 they closed and later reopened in 1992. Padgett building and remodeling co. takes pride in making sure the customer knows what they are buying, and understanding how to financially plan for construction. They specialize in custom homes, commercial work, and residential remodeling. David Padgett is the president of home builder association. Much like our class their business does at journal every week. They keep the technique of replicate and duplicate, but prefer to make unique built home/structures. Dave Padgett is coming into more leadership positions, and ownership through buying shares or the company instead of having the company be gifted to him. He stated that the best way to keep a healthy business is to have common goals between employees to make sure company success is achieved, attempt to make services affordable, and remove potential conflicts. He stressed being forward thinking, and willing to change. Lastly he talked about the businesses marketing; he explained that 85% of business comes from referrals, word of mouth, and Facebook ads.

Epiphany Smith
Friday, April 7, 2017Learn More About Epiphany

These next few weeks are very important weeks for us. This week was the start of them being of elevator pitch week. Although on Monday we visited Padgett Construction. Padgett Construction is a family owned business in Swansea. David Padgett really focused on how much the business is family oriented. It was started in the late 70’s by the 90’s they had to shut down because they were not doing the books and did not realize how much money they were losing. Padgett Construction is known for making exclusive homes and one of a kind. Their homes are usually huge and expensive. Most of their customers have families, but do not hire them until their 40’s. On Tuesday, we met back at Artigem and Patrick McKeehan came back to help us with our elevator speeches. Today was honestly the first day I really focused on my speech. I am really bad a public speaking and always don’t know what to say. I went up there and forgot everything I was even thinking about. Although, my pitch was not even near long enough it wasn’t as bad as I thought it would have been.

On Wednesday, Kurt Artinger also helped us with our elevator speeches. The second day was a lot better than the first day. We did a lot better than we all thought we would.

Thursday, was the day of our elevator speech and it was stressful. I am a horrible public speaker and was so nervous. But once I got in there it wasn't stressful at all. I didn't do as bad as I thought I would do, but my pitch wasn't long enough.

On Friday, Joann DiMaggio-May and Ed Hoering came back to tell us who won. Although, they said that everyone did a very good job and we did a lot better than last year’s class. On Tuesday, we have Banker Day and by April 19 we have to have everything ready for our trade show. For my booth I have no idea what I am going to do, but I want my dog there.  We only have a couple more weeks until the end of the year and it's so exciting.

Claire Randle
Friday, April 7, 2017Learn More About Claire

Another busy week of CEO class has passed. This week we visited one business and have met with multiple business people. We have working hard on our elevator pitch, and our competition was Thursday. I enjoyed working on the elevator pitch because it helped me learn more about my business. I had to focus on a few main points in my business. I told a story about the genesis of my business and idea.

On Monday we visited Padgett Building & Remodeling. The business was founded by Ron and Don in 1978. Their target market is people ages 50 and older. Since they do such nice and unique projects, their customers need to have good funds. One important thing to keep in mind is to make sure that the customer understands what they are getting. They lay out everything that the customer needs to know so that there is no confusion. They view the family atmosphere as most important. It is a family run business, and it shows. They are always allowed to miss work for family functions. With that being said, they need to finish their work. One struggle Padgett had was a lack of preparation for emotional losses. Ron and Don's father died, they were at a standstill for many months. I enjoyed meeting and learning about the business.

On Tuesday, I practiced my elevator pitch for the first time. I was extremely nervous, and stumbled over my words. With that being said it was an extremely beneficial experience. I learned how to stay calm, and the importance of hitting all key points.

On Wednesday, when I practiced in class I messed up badly and froze. This experience helped me learn the importance of practice. I needed to practice a lot before I was going to be ready on Thursday. I practiced a lot, and tried to make it seem more like a conversation rather than a scripted speech.

On Thursday, we had our elevator pitch competition. It went very smoothly for me, and I was asked many questions. I thought I told my story well, but I was extremely nervous. When they asked me questions, I felt a lot more comfortable, and was able to answer them well.

Stephen Waltrip
Friday, April 7, 2017Learn More About Stephen

This week of CEO went by really fast. It went by so fast because we had one class visit, three work days, and a day to present our elevator pitches. Each day was filled with excitement and nervousness for me because having a good elevator pitch is a big deal. Now that the elevator pitch is over I have to prepare to present to a banker. Yikes!

On Monday we visited Padgett building and remodeling company. They have been in business for 25 years and are currently in their second generation of the family business. David Padgett had a lot of good advice to offer us.  He told us his business runs by replicating and duplicating. To run a successful business you don’t have to come up with a new idea, you can just take someone else’s idea and find yourself a piece of the market. I am doing this with my t-shirt business. I won’t be the first person to sell fraternity or sorority shirts, but since I have such a specific spot in the market I will be able to be successful. Another thing he told us was that you have to set out expectations for what your customer is getting from you. This will ensure you customer is never disappointed in what they get from you, and generate more return customers. As a t-shirt business I need to make sure they know exactly what the shirt looks like before they even order it, that way they can’t ask to return it or complain because they got what they asked for. Lastly, he talked about knowing our financials. I have to make sure I keep track of my profit and loss because I could be losing money and not even knowing it, just like Padgett building and remodeling did before they kept financial records. He recommended if you don’t like numbers then you should hire a good accountant, which is exactly what I will be doing in the future once I make it big.

We spent two whole days working on our elevator pitches to present them on Thursday. I was really nervous but I think I did a really good job. Unfortunately I did not place in first, second, or third, but I’m still proud of myself either way. Now that the pitch is finally over we have to prepare for banker day. Banker day might be even more nerve racking because I have to know everything about my business. I have to be sure no matter what the banker asks me I am prepared to answer it accurately and persuade him to invest in my business.

Michael Lassman
Friday, April 7, 2017Learn More About Michael

It can take some time to get your pitch right. You'll likely go through several versions before finding one that is compelling, and that sounds natural in conversation. This week in CEO we worked hard to complete our elevator pitch while we also visited Dave Padgett from Padgett Construction.

 On Monday we visited David Padgett where he talked to us about Padgett Building & Remodeling Co. Inc. which was founded in February 1992.  Peggy, Don and Ron Padgett are three of six children of Tom and Marie Padgett.  The Padgetts were raised in Fairview Heights, IL and attended Althoff Catholic High School.  Tom Padgett, while working for the Norfolk and Western Railroad ran his own heating and refrigeration business.  During the summer and on Saturdays, Don and Ron worked with their father installing new heating and cooling units.  The Padgetts gained their first new home construction experience in the summer of 1979 while building a home for the family. Don and Ron continued to work construction to help defray college costs. Graduating with degrees in Business Administration in May of 1983, Don and Ron established Padgett Brothers Construction.  They closed the company in the fall of 1988 and went to work for others within the construction industry.   Padgett Building & Remodeling took on a new direction during 2006.  The company was contracted by Hunt Building Company, Ltd. to renovate historic housing at Scott Air Force Base located in Mascoutah, IL.  With that project being a success, in 2009 the company entered in a second contract with Hunt Building Company, Ltd. at Langley Air Force Base located in Hampton, VA.  David Padgett relocated to Virginia to run that project and returned in 2011 to work in the company as General Manager. Everyone in Padgett construction has some sort philanthropy.   Mr. Padgett volunteers at the Humane Society. In 2014, David Padgett bought 100 shares of stock in his family company.

 The next day Kurt Artinger came in to listen to our elevator pitch. That was my first time I actually pitched about my business. I wasn't nervous at all but I didn't know exactly what to talk about.   Mr. Artinger told me to get comfortable with my pitch. You don’t want to sound like a pre-recorded program. Have passion, yet show some restraint. Most of all, relax! If you stumble that is totally fine, smile and start over. Practice as much as I can eventually I will find the perfect pitch for me. The day after that we actually pitched for real. I walked in to Shark Tank music and pitched my company to the judges. The day after we found the winners and I found out that I didn't win which was not a surprise to me at all but I tried which makes it okay.

Jaylen Davis
Friday, April 7, 2017Learn More About Jaylen

Tuesday and Wednesday were both relatively stressful days, because the realization really hit that time to get our pitches ready was really dwindling, and it was officially crunch time.  I decided that rather than trying to memorize something that I'd probably forget anyway.  So I decided that it'd be more natural if I just went in and talked about my business off the top of my head.

Thursday was the big day where we were to finally present our elevator pitches to the judges, and see what they think about it.  I had sort of a risky strategy, just going off the top of my head but I felt more confident in that, as opposed to trying to memorize a script.  Overall I felt like I did really well with the elevator pitch and I'm very excited to present the products at our business trade show on April 26th.

Friday was a rather relaxed work day as the only really notable thing was the announcement of the winners of the elevator pitch competition.  Aside from that the class really just worked on their weekly journal and made some small bits of progress on their personal businesses.

So in final, this was another great week for our Belleville CEO class, and I'm so excited to see what's coming in the weeks left.  I'm also very excited that the classes personal businesses are coming together so well,  for the April 26th trade show, and all of the great ideas seem like they have a lot of potential, which is really cool to see.

       

Cole Maul
Friday, April 7, 2017Learn More About Cole